ChroMedX trademarks HemoPalm as IP work continues
ChroMedX (CSE:CHX) (OTC:MNLIF), which is working on two new medical devices that it says will change the face of in vitro diagnostics, said it has trademarked its patented HemoPalm technology in the US, which will be officially registered when it is released commercially.
HemoPalm targets the point of care subset of the in vitro diagnostics market, and is a handheld analyzer and suite of single use cartridges that test the oxygen carrying capabilities of blood, blood gases and electrolytes.
Normally, these type of tests are taken with an arterial blood sample (typically an artery in the arm), and are then sent off to a central lab, where a bench top unit uses spectroscopy and electrochemical sensor measurements to provide results. It can take hours to get the results.
But the HemoPalm takes the sample of blood with a simple finger prick, providing a result on the spot, with no specialist required. The benefit, aside from the obvious less pain, is that the test opens the market up to first responders, such as paramedics, who can take the blood sample right at the scene and then transfer the data back to the hospital before the patient even arrives.
This saves both time and money, and can help a patient become discharged faster from the hospital, improving efficiency across a wide range of departments.
The technology is currently covered "Anadrol 50" by two issued and one pending patent, with the pending patent Masteron 100 Para Que Sirve to be filed internationally in spring 2015. ChroMedX's intent is to extend the patent protection term in the US and to seek patent protection at least in Europe and Asia for the extended term.
"ChroMedX continues to build on a strong foundation of intellectual property detailing the company's novel in vitro diagnostic and "Anadrol 50" point of care testing systems," said president and chief executive officer, Dr. Wayne Maddever.
The HemoPalm technology is the only handheld device to provide full co oximetry (the oxygen carrying state of hemoglobin), blood Australian Levitra gases and electrolytes. Aside from the first responders market, it can also be used for disaster relief, emerging economies or in the military where central laboratories may not exist or may be too far away.
The device is expected to be ready for submission to the FDA in about a year.
The company second platform, known as Automated Ultra Filtration, or AUF, is another single use disposable cartridge which targets a different market. This device uses ultrafiltration technology to remove proteins from the blood for immunoassays of free hormones and therapeutic drugs.
Shares of ChroMedX jumped over 9 percent to 24 Canadian cents on the Canadian Securities Exchange Thursday.
Proactive Investors North America Inc, trades as "Proactiveinvestors USA Canada".
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